科技型小微企业股权激励机制构建

Research on the Establishment of High-Tech Small & Micro Businesses' Equity Incentive Mechanism

股权激励是解决委托代理问题的重要手段。在双创背景下通过对科技型小微企业股权激励机制的调查研究发现:股权激励在科技型小微企业中实施并不普遍;在实施了股权激励的企业中,股票期权和员工持股计划是最常使用的两类股权激励方式,资本募集预留是股权激励的主要来源,激励比重以不超过总股本的10%居多,自然人直接持股和有限合伙式的间接持股是主要的持股方式,行权方式多样并普遍设置了激励标准。对照股权激励理论和当前现状,从理念重视、激励模式、激励比例、持股方式、激励标准等方面提出了科技型小微企业股权激励机制构建的对策建议。

Equity incentive is an important solution to the problem of principal agent. Based on a survey of high-tech small and micro businesses’ equity incentive mechanism, the paper discovers that the implementation of equity incentive in high-tech small and micro businesses is not very popular. The most common ways are stock option incentive and the employee stock ownership plan.The main part of equity incentive mechanism is the capital raising reservation, the usual incentive proportion of the total share capital is less than 10%, and the major ways of shareholding are natural person directly hold the shares and limited partnership, and there are a variety of ways and generallyset criteria. Based on the theory and the present situation, the suggestions are put forward from the aspects of concept emphasis, incentive model, incentive ratio, shareholding method and incentive standard.